Slide 1: First Quarter 2024 Update: Consistent and determined
FIRST QUARTER 2024 UPDATE Q1 Consistent and determined
Slide 2: Cautionary disclaimers
F O RW A R D L O O K I N G S TAT E M E N T S A R E M A D E I N T H I S P R E S E N TAT I O N Cautionary disclaimers This presentation contains forward-looking statements and information within the meaning of Canadian securities law and United States securities laws, rules and legislation, including
Slide 3: Cautionary disclaimers: Additional notes
ADDITIONAL NOTES Cautionary disclaimers CAUTIONARY NOTE TO U.S. READERS This document and shall not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction, and no securities may be offered or sold without registration under t
Slide 4: Performing, Advancing, Strengthening
OPERATIONS EXPLORATION & DEVELOPMENT BALANCE SHEET Performing Advancing Strengthening
Slide 5: Strong operating start to year
Q 1 O P E R AT I N G H I G H L I G H T S Strong operating start to year 33koz 0.82g/t 19.6ktpd Mining Q1 2024 Q1 2023 GOLD PRODUCTION AU GRADE STACKED AVG STACKING TPT Total Ore Mined tonnes 1,943,865 1,948,543 Waste Mined tonnes 872,571 1,183,781 Consistent operating performance Total Mined tonnes
Slide 6: Camino Rojo a consistent producer
Q 1 O P E R AT I N G H I G H L I G H T S Camino Rojo a consistent producer 33koz 0.82g/t 19.6ktpd Camino Rojo Oxide Gold Production GOLD PRODUCTION AU GRADE STACKED AVG STACKING TPT 40 34 koz 35 32 koz 33 koz Consistent operating performance 32 koz 30 29 koz 29 koz Tracking to FY 2024 production gui
Slide 7: Strong operating margins
Q1 FINANCIAL HIGHLIGHTS Strong operating margins 32koz $909/oz $118m Operating Q1-2024 Q1-2023 GOLD SOLD All-IN SUSTAINING COSTS1 CASH BALANCE Gold Production ounces 33,223 25,910 Gold Sold ounces 32,046 26,859 1 Average Realized Gold Price per ounce $2,059 $1,888 Healthy gold price + low-cost opera
Slide 8: Strengthening balance sheet
YEAR OVER YEAR IMPROVEMENTS Strengthening balance sheet $118m $88m $30m $30m CASH BALANCE DEBT OUTSTANDING NET CASH1 $8m Building cash through profitable operations -$3m Further deleveraging post-quarter: -$20m • $10 million in long-term debt repaid in April • Continue to evaluate opportunities to r
Slide 9: Evidence of more potential on extension
C AM I N O R O J O – S U L P H I D E E X P L O R AT I O N & D E V E L O P M E N T Evidence of more potential on extension Camino Rojo open at depth: “Extension” • 30,000-metre drill program in 2024, test potential • 10,000 metres drilled in Q1 • Polymetallic replacement-style sulphide and skarn-type
Slide 10: Just getting started in Railroad District
D I S T R I C T C O N S O L I D AT I O N , S O U T H E X T E N S I O N O F G E O L O G Y A N D M I N E R A L I Z AT I O N Just getting started in Railroad District Encouraging results from early-stage exploration Results-based 2024 program • 15,000 metres planned (+7,000 metres at Pony Creek) Oxide
Slide 11: Increasing resources and making new discoveries: $47 million
2 0 2 4 E X P L O R AT I O N A N D D E V E L O P M E N T G O A L S Increasing resources and making new discoveries $47 million (exploration & development) USA (NEVADA) MEXICO PROJECTS $14 million $23 million $10.5 million 1 (expensed) Administration, permitting & engineering Oxide Layback: $0.5m (ca
Slide 12: Driving shareholder value through ESG
Driving shareholder value through ESG Materiality Assessment Update Systems Leadership program taking hold
Slide 13: 2024 Plans: Strong fundamental business
2024 PLANS Strong fundamental business ON TRACK TO ACHIEVE GUIDANCE Building cash 110-120 koz 2 $875-$975 /oz AISC 1,2 INVESTMENT INTO BUSINESS Advancing Mexico & Nevada exploration & development across portfolio2 13 1. Please refer to Appendix “Non-GAAP Measures“ for additional information. 2. For
Slide 14: The right formula for value creation
T H E R I G H T F O R M U L A F O R VA L U E C R E AT I O N Proven strategy + Quality partners + Quality projects
Slide 15: Non-GAAP measures
NOTES Non-GAAP measures The Company has included herein certain performance measures (“non-GAAP measures”) which are not specified, defined, or determined under generally accepted accounting principles (in our case, International Financial Reporting Standards, or “IFRS”). These are common performanc